Principle 10 - Accountability
The Board should present a balanced and understandable assessment of the company's performance, position and prospects.
Principle 11 - Risk managment and internal controls
The Board is responsible for the governance of risk. The Board should ensure that Management maintains a sound system of risk management and internal controls to safeguard shareholders' interests and the company's assets, and should determine the nature and extent of the significant risks which the Board is willing to take in achieving its strategic objectives.
Principle 12 - Audit committee
The Board should establish an Audit Committee ("AC") with written terms of reference which clearly set out its authority and duties9.